Plunging Pea Area Worries Market
VANCOUVER - Jun 25/11 - SNS -- International field pea markets finished the week's trading on an unsettled note against news Canada expects seeded area to plunge from 3.45 to 2.52 million acres.
This reflects a general trend towards lower production in net exporting countries.
Peas are the cheapest pulse and one of the cheapest source of protein in the world today. As welcome as that is for importers in India and China, returns to farmers from growing peas had become grossly uncompetitive with grains and oilseeds, resulting in this year's steep decline in world production prospects.
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